Find the amount and the compound interest on a sum of Rs 15625 at 4% per annum for 3 years compounded annually.

byAmlesh Mahato •March 09, 2021

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Solution:

⇨Given

⇨p= 15625

⇨r= 4%

⇨n= 3

⇨We have ,

$Find the amount and the compound interest on a sum of Rs 15625 at 4% per annum for 3 years compounded annually.$

$\large \Rightarrow C.I=p(1+\frac{r}{100})^{n}-p$

$\large \Rightarrow C.I=p\left \{ (1+\frac{r}{100})^{n}-1 \right \}$

$\large \Rightarrow C.I=15625\left \{ \left (1+\frac{4}{100} \right )^{3}-1 \right \}$

$\large \Rightarrow C.I=15625\left \{ \left (\frac{100+4}{100} \right )^{3}-1 \right \}$

$\large \Rightarrow C.I=15625\left \{ \left (\frac{104}{100} \right )^{3}-1 \right \}$

$\large \Rightarrow C.I=15625 \left (\frac{1124864}{1000000}-1 \right )$

$\large \Rightarrow C.I=15625 \left (\frac{1124864-1000000}{1000000} \right )$

$\large \Rightarrow C.I=15625 \left (\frac{124864}{1000000} \right )$

$\large \Rightarrow C.I=15625 \times \frac{124864}{1000000}$

$\large \Rightarrow C.I= \frac{1951000000}{1000000}$

$\large \Rightarrow C.I=1951$

⇨Then Amount = P + C.I.=15625 + 1951=17576 Rs

Tags: Math-Class-8

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